1.26.2009

PRE MARKETS


Equity markets are trading well below fair value this morning on the heels of a post 4 oclock sell off on Friday.


My comments will be limited today as I have some other stuff going on -


Anyhow, in Barron's some wonderful picks by the roundtable from Jan 2- BAC MSFT INTC etc- and its great that they constantly remind us that it is a "stock pickers market".


Some good links:


BESPOKE on the VIX;


Country default risk continues to move up;


Financial Preferred's NOT SO GOOD;


VIX ETN's coming;


Dowd on the Wacky Govs;


And oops- futures seem to be moving higher as S and P says GE ratings "unaffected" by Q4 earnings- love the ratings agencies.